- Enhancement to OneKey® MLS’ listing website enables homebuyers to explore down payment assistance and affordable home financing programs through partnership with Down Payment Resource
- 68.3% of the residential housing inventory across OneKey® MLS’ nine-county coverage area is eligible for at least one homebuyer assistance program with an average benefit of $28,500
Farmingdale, N.Y., Dec. 14, 2022 — OneKey® MLS, the largest multiple listing service (MLS) in New York, has enhanced its consumer-facing listing site to help New Yorkers find homebuyer assistance programs they may be eligible for, such as down payment and closing cost assistance. This functionality is made possible through a partnership with Down Payment Resource, a technology company helping the housing industry connect homebuyers with homebuyer affordability programs.
Now, each listing on www.onekeymls.com that is eligible for homebuyer assistance contains a link in the details page to “Find Down Payment Assistance.” When users input basic eligibility information, such as income, household size and other program qualification criteria, they are emailed a list of programs and the amount of assistance for which they may qualify.
OneKey® MLS serves nine counties encompassing New York City, Long Island and the Hudson Valley. An analysis of the MLS’s coverage area shows that 68.3% of its residential listing inventory is eligible for at least one of 51 homebuyer assistance programs, including 39 down payment assistance programs, 11 affordable first mortgage programs and 1 housing choice voucher program. Program benefits range from $2,000 to $100,000 and can be used by homebuyers that earn as much as $162,000 per year to purchase homes priced up to $970,000. The average maximum program benefit is roughly $28,500.
“Consumer demand for affordable pathways to homeownership has never been stronger, yet many New Yorkers do not know that there are dozens of programs designed to give them the extra help they need to start building generational wealth through homeownership,” said OneKey MLS CEO Richard Haggerty. “OneKey® MLS partnered with Down Payment Resource to empower consumers with the tools that broaden their homebuying choices.”
“Homebuyer assistance programs are important tools for helping people attain homeownership, especially in New York, where the housing affordability index hit a 10-year low last month,” said DPR Founder and CEO Rob Chrane. “Now, New Yorkers can look to OneKey® MLS and its REALTOR® subscribers for homebuyer assistance program education that may make the difference between renting and homeownership.”
About Down Payment Resource:
Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With tool sets tailored for real estate agents, multiple listing services and mortgage lenders, DPR’s technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.
About OneKey® MLS:
OneKey® MLS, made possible by the merger of MLSLI and Hudson Gateway MLS, is one of the nation’s leading Multiple Listing Services, serving over 50,000 REALTOR® subscribers and 4,500 participating offices throughout Long Island, Manhattan, and the Hudson Valley. OneKey MLS is dedicated to providing more comprehensive coverage, up-to-date statistics, and the best real estate tools and resources.
Twitter: @DwnPmtResource @OneKeyMLS #MLS #Realtor #broker #downpaymentassistance